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Mars Ecosystem x Satoshi Club AMA Recap from 15th of November

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Mars Ecosystem and our guest was @clomptheory — representative of Mars Ecosystem. The AMA took place on the 15th of November.

The total reward pool was 500$ and has been split into 3 parts.

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Website

Gold Rocket | Satoshi Club:
Greetings, dear Satoshi Club ❤️ Today we are happy again to welcome our guest from Mars Ecosystem — @clomptheory

Hello and welcome to Satoshi Club Tarios❤️😊

Tarios:
Hey everyone! It is great to be here again! It made me very happy to be here again.

Gold Rocket | Satoshi Club:
We are always happy to see you😁

Tarios:
😊

Gold Rocket | Satoshi Club:
What news did you bring us today?🔥🔥🔥

Andrés M. | Satoshi Club:
We are glad to have you with us again 😃

Tarios:
Maybe I should say “Genesis” 🤔 🔥

Thanks!

Gold Rocket | Satoshi Club:
You intrigued us! 😃 Come on in more detail please😁

Tarios:
Of course,

With the Genesis event, which is expected to be launched in November, USDM will debut. XMS holders will be the first holders of USDM!

Prepare your BUSD and XMS and wait for Genesis! 🚀

Andrés M. | Satoshi Club:
Waiting for it 🥳

Tarios:
Yes! Many of us, the team is working on it for the best! Stay tuned.

Andrés M. | Satoshi Club:
Is there any approximate date for the event?

Gold Rocket | Satoshi Club:
Well! Тhank you very much for the great news and introduction! Do you want to add something before the community questions? or can we jump further?

Tarios:
For now, it’s scheduled for November. There may be some delays as our team works for the best and the safest of users. Stay tuned for the best.

I think we can jump!

Andrés M. | Satoshi Club:
Got it, actually, we want to talk a little more about the event.

Q1 from Telegram User @UniqueVicky
I understand that two different groups of people will be selected for the Mars genesis when it is launched, one group is called the “Space Rider” this group will assist the survival mission of mankind and create a mars community and establish and continue improvement and development of the financial system and the other group called the “Spacecraft one” will partake of the initial MarsDAO community. They will be selected on the condition that they have contributed to the community and airdrop the “boarding pass NFT” and the “captain NFT”. Please kindly explain about these two NFTs, what are they?, what is the highlight and differences between these two NFTs? How can users contribute to the community and airdrop boarding and captain NFTS, please explain to a newbie, thank you

Tarios:
Of course!

Yes, we will give NFT to early supporters of the project and those who have contributed to the project. For example, we have plans to give IMO participants NFT.

At present, we are still continuing to empower nft and improve the gameplay of NFT. Besides, we have prepared rewards for those active users in our community, such as token airdrop and special NFTs! If you’re interested in becoming a captain, please check: https://mars-ecosystem.medium.com/mars-ecosystem-captain-program-5792e436de65

For all the IDO/IMO/IIO participants you will be getting Boarding Pass NFT
And our team will be selecting some Active users and who had contributed more to our community from day 1
And we will airdrop them with a Boarding pass and Captain NFT for the selected users
Next, we will also expand cooperation with other projects, such as GameFi, so stay tuned.

Done! ✅

Gold Rocket | Satoshi Club:
Thanks for your detailed answers 😃

Let’s proceed to the next question🚀

Andrés M. | Satoshi Club:
Let’s join Satoshiclubbers💪💪

Q2 from Telegram User @JaviSuBs
Greetings Mars Ecosystem I would like to know to begin this question what is the MVB Program? where it says that Mars Ecosystem is one of the strongest participants in the MVB Program, can you give us more information about it? I would also like to know what you have planned for the year 2022, Mars Ecosystem to do one of the most popular projects in BSC? What goal do you plan to meet for that year and how do you see yourself at the end of 2022? Thanks

Tarios:
Sorry, Lastly

Users can contribute to the community through our Captain Program, and we also gonna cooperate with Celestial on the new Space theme NFT, Stay tuned!

Andrés M. | Satoshi Club:
Thanks for clarifying it, done worry, please share all the info you want 😃

Gold Rocket | Satoshi Club:
https://t.me/marsecosystem_news

Tarios:
MVB Program is a competition created by BSC. The aim of MVB is to promote the development of projects built on BSC and make them more valuable to move BSC further.

Of course! He was among the stars of September in Mars Ecosystem MVBIII! Thanks to this, it still has a chance to be included in the TOP10 on November 24th. Our team is constantly doing events with BSC, https://twitter.com/BinanceChain/status/1458819474862354439?s=20

Our plans for 2022 are to move to different popular networks and increase our user base considerably. The goal of our team is to create an ecosystem beneficial to the entire DeFi ecosystem.

Andrés M. | Satoshi Club:
Which one is the next network for the Mars ecosystem?

Tarios:
The end of 2022 is about 1 year later — 1 year is quite a long time for crypto. Therefore, although I cannot give you a clear answer, the long-term goal of our team is to be the Central Bank of the entire DeFi world. To achieve this goal, the team will make all the improvements — the best for our users!

There is currently no definitively published network. Please follow the announcement channels to receive news when it is announced.

Andrés M. | Satoshi Club:
Got it, this is the announcement channel Satoshiclubbers, let’s join there

Tarios:
Yes, soon there will be more exciting news!! 🔥

We’re too excited as a team!!

Andrés M. | Satoshi Club:
Which benefits do you consider DeFi provides to the users that CeFi can’t?

Tarios:
The greatest comfort is definitely anonymity and decentralization. In fact, even if we are not completely anonymous with DeFis, there is no such thing as KYC, so DeFi users can always hide their identities. In addition, while CeFis are directly connected to a single company, DeFis has a decentralized structure thanks to nodes. So it is safer and there is no single breaking point. Also, DeFi is definitely more free and transparent! We can review all the codes, which is great! Which CEX’s codes can we access right now, right?

Gold Rocket | Satoshi Club:
Yes! these are definitely advantages

Thanks a lot for the answers

Ready for the next question?

Tarios:
Mars Ecosystem is also working to issue a stablecoin that is both sustainable and decentralized and we are very close to launching! 🔥

Andrés M. | Satoshi Club:
Great answer, completely agree with you👏

Tarios:
Of course!

Q3 from Telegram User @jodasf
Throughout this year 2021, we have seen many projects being affected by malicious attacks from users, groups, and organizations, where many of these projects could not recover, so, how Mars Ecosystem is protected against malicious attacks, tell us what technologies do you use to protect your users and avoid millionaire losses and at the same time protect your image?

Andrés M. | Satoshi Club:
Btw, Satoshiclubbers let’s remember the past AMA with the Mars ecosystem in October https://esatoshi.club/ama-satoshi-club-x-mars-ecosystem-october-7th-2/

Gold Rocket | Satoshi Club:
https://esatoshi.club/ama-satoshi-club-russian-x-mars-ecosystem-russian-october-12th-2/

And Russian AMA 😁❤️

Tarios:
A very good question! One of the most important things for the team is definitely safety! In every step the team takes, they constantly perform audits both within the team and through external companies.

Currently, we have 2 audits that have been fully done. CertiK and Slowmist. We also launched the Bug Bounty program with Immunefi to give a chance not only to companies but also to white hat hackers. In this way, anyone can examine the codes and detect errors. And of course, they can grab the prizes too!

The last thing I want to talk about is CertiK Skynet. CertiK Skynet is a feature that continuously scans the codes in projects and generates a security score accordingly. The risks that may arise are minimized thanks to the 24/7 supervision of Skynet. And now we have 96/100 ratings on Skynet!

Andrés M. | Satoshi Club:
What are the rewards for bug hunters?

Gold Rocket | Satoshi Club:
This is a very high rating! great job!👏👏👏

Tarios:
The maximum prize is $60,000!

🛡

Andrés M. | Satoshi Club:
Oh, that’s an incredible calification, congratulations👏

Gold Rocket | Satoshi Club:
Thanks for your answers 😃

Let’s proceed to the next question🚀

Tarios:
Of course!

Q4 from Telegram User @yellowchamp
I found out that the goal of the Mars Ecosystem is to build the central bank and reserve currency of the DeFi world. So, could you explain more about this goal of Mars’s Ecosystem? Literally, how would you plan to build a central bank in Defi world and how would you introduce and implement this central bank in the market? What kind of reserve currency you are aiming to bring in the Defi world and what will be its essential use? Do you have any timeline for achieving your goal to build the central bank and reserve currency of the DeFi world? Thank you

Tarios:
Some of the currently used stablecoins are:

USDT, USDC, DAI, BUSD, etc.

Some of these stablecoins are centralized and some are not sustainable. The goal of Mars Ecosystem is to solve this problem in the world of DeFi. To solve this problem, we will use our stablecoin, USDM. USDM will be backed by a fully liquid Mars Treasury. Mars Treasury will constantly interact with USDM and XMS, regulating the relationship between USDM and XMS, as well as minting and redeeming USDM. Our goal as a central bank is, in short, to create the most widely used stablecoin in the DeFi world. For this, our team will start the Genesis launch soon — this is the first step towards that goal, stay tuned!

Our current roadmap is as follows:

🌟In November, the stablecoin module of Mars Ecosystem will be launched on BSC, and a “Genesis” will be held at the same time. Users can mint USDM using BUSD and earn XMS rewards. Details: https://docs.marsecosystem.com/whitepaper/genesis

🌟Next, we will release more DeFi protocols through investment, incubation, and joint development to jointly empower Mars Ecosystem. In Q4 of 2021, we plan to release the yield aggregator module and develop our Launchpad platform at the same time.

🌟In Q1 of 2022, we plan to implement the function of stable coins mintage on other public chains to expand our protocol.

🔥All the above plans will empower and add value to our governance token $XMS.

Stay tuned for more! 🚀

Gold Rocket | Satoshi Club:
Excellent answers😁

Andrés M. | Satoshi Club:
Do you have any buy-back systems?

Tarios:
Not yet but it will be implemented in the future.

First of all, we will buy back XMS tokens via a transaction fee.
In the future, we will burn our tokens to reduce the total supply.

Andrés M. | Satoshi Club:
Gotcha. So, let’s talk a little more about the transaction fees 😃, ready to go with the next question?

Tarios:
Yes, let’s go!

Q5 from Telegram User @Asela1112
Talking about Mars Swap, It is a Uniswap type AMM Dex. When users swap The transaction fee on Mars Swap is 0.3% which is pre-decided to go about 0.25% to LP & 0.05% for $XMS holders where stake $XMS tokens in Mars Swap. Why the transaction fee is too low? The $XMS holders will not receive a considerable reward due to this low transaction fee. How will you manage this situation? A lot of LPs will come over to provide Liquidity if the transaction fee is higher so that they can gain a satisfying amount of $XMS. Will you increase the transaction fee in the future?

Tarios:
In fact, it may not be correct to say that transaction fee are directly low. Because as you have noticed, the fees are made on a percentage basis. This means that the larger the volume of DEX, the greater the rewards going to XMS stakers. If you check out our current farms and pools, you will see that the rewards are very high and sustainable!

We have no plans to increase transaction fees in the future. However, as the amount of use of the Mars Ecosystem increases, the use of DEX will increase. As for DEX usage increases, total fees will increase and XMS holders will reap high rewards!

Andrés M. | Satoshi Club:
What are the others benefits you provide for long-term holders? Btw, what is the APY established for staking?

Tarios:
Currently, XMS holders can earn tokens like CAKE, BTC, BNB, ETH, with high APRs! In addition, we should not forget that the main task of XMS is the governance token. Going forward, XMS owners will shape the evolution of the Mars Ecosystem. Finally, XMS holders will be the first to mint USDM at the Genesis launch.

Gold Rocket | Satoshi Club:
Thanks for your answers and clarification 😊

Tarios:
You’re welcome!

Gold Rocket | Satoshi Club:
Let’s proceed to the last question of this part🚀

Andrés M. | Satoshi Club:
A lot of benefits, great reasons to invest🥳💪

Tarios:
Send it please! 👀

Q6 from Telegram User @Pavel_Jarosh
Mars Ecosystem states that USDM price is stable not only in normal market conditions but also in extreme ones. The anti-bank run mechanism is guaranteed by the asymmetry of minting and redeeming assets. As we are all approaching the end of the bull run we can consider it a start of extreme conditions and a call for USDM price protection mechanisms. Can you assure that the USDM price will remain stable during the next year? Can you provide some examples of when the USDM price kept its position despite market changes?

Tarios:
As you said, it is easier for USDM to keep up with the market as it is currently in a “bull run”. Because right now the amount of assets on DeFi is increasing and more and more liquidity is constantly being created.

However, as you said, when the so-called “bull run” ends and the “bear season” begins, will USDM be successful again?

Our answer is yes. Because USDM is not an algorithmic stablecoin. It is a token fully liquidated by the Mars Treasury. Regardless of the amount of assets in DeFi, be it a “bear” or “bullish” season, Mars Treasury will always be the mainstay of USDM and XMS. For example, let’s say that assets in DeFi are withdrawn and liquidity in DeFi begins to decrease. If users want to reclaim their assets from Mars Treasury, they must redeem their USDM. Thus, all of the liquidity in Mars Treasury is such that it can meet all USDMs in the market. Even in the most extreme conditions, there will always be a reserve behind USDM.

Gold Rocket | Satoshi Club:
Thanks for this great 1 part of AMA 😊

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Nonerlike
XMS holders have lots of benefits including governance. Where can I buy XMS and on what wallet should I hold?

Tarios:
Yes, exactly! The long-term benefits of owning XMS are huge!

To purchase XMS, please visit here, https://app.marsecosystem.com/swap

Any wallet app that can run Web 3.0 apps will suffice, but our recommendations are TrustWallet, SafePal, Matemask, and C98.

Q2 from Telegram user @potentialsake
I have one question in mind after reading your introduction does Mars Ecosystem planning any multi-chain or cross-chain integration?

Tarios:
Yeah! Once our team is confident about the improvements in the BSC network, they won’t stop! They will also issue the USDM token on different networks to spread the USDM token to all DeFi. Stay tuned for more information!

Q3 from Telegram user @Xusuo
Could you explain how do we possibly get $USDM? is there any token sale for $USDM? and what is connection $XMS with $USDM?

Tarios:
USDM will debut with the Genesis Launch in November.

XMS Holders will be the first holders of the USDM stablecoin.

Users who want to mint USDM can mint their USDM by committing BUSD. (On the condition of having a certain amount of XMS)

The link between USDM and XMS is:

USDM’s Market Cap will be limited by XMS’s market cap. Therefore, there will always be enough XMS to redeem USDM even if there are momentary drops. Also, as USDM’s usage becomes more widespread, XMS’s Market Cap will increase with it.

Q4 from Telegram user @jirencrypto
You mention that the fundamental problem within the protocols of the current stable currencies is the positive externality, how does Mars Ecosystem avoid incurring or replicating these problems? What mechanism or strategy do you apply to solve this?

Tarios:
Mars’s Ecosystem overcomes this as an ecosystem.

Thanks to the 3 parts that make up the Mars Ecosystem, Mars Ecosystem creates a stablecoin that is sustainable and sustainable within itself, regardless of other projects outside. The DEX, Stablecoin, and Treasury contained in the Mars Ecosystem are parts that complement and support each other.

Q5 from Telegram user @rengoku_kyu
Who inspired you to build the mars ecosystem?

Tarios:
Astrophysicist Guillem Anglada Escudé once said, “Space inspires mankind, promotes the integration of various disciplines, and promotes the reflection of the whole society on the earth.”The vision of going to Mars does not mean abandoning earth but expanding our journey to include both planets. The exploration of the red planet may even help us better solve the earth’s energy crisis and protect life here.

“We may carry out extra-terrestrial mining and even introduce the development of a multi-planet economy. ” — ESA.

Logically, no company will carry gold coins or paper money to Mars, because this will greatly increase the extra weight of necessary material delivered. In turn, this is a very inefficient way of transferring currency value.

Cryptocurrency will therefore become the best choice for interstellar exploration. Before humans set foot on Mars, begin to mine energy, and establish civilization, it may be possible to issue a currency that can be easily traded on Mars or even across planets.

It is with this vision that MarsDAO was born.

Q6 from Telegram user @KevSalom
I understand that you have a stable currency $USDM, could you tell us about the characteristics of this currency? What are the assets that support it? What are its benefits with respect to other stable currencies in the market?

Tarios:
USDM is a stablecoin liquidated with the Mars Treasury.

The assets behind it are stablecoins, BTC, ETH, UNI, etc. are highly liquid and voluminous assets such as

USDM stablecoin collects under one roof what other stablecoins cannot do together,

Decentralized, Sustainable, and No external dependency issues.

Q7 from Telegram user @KASG95
Understanding that users can get bigger profits in the long term and that Mars Ecosystem will continue to add more pools/farms, could you give your roadmap to be on the lookout?

Tarios:
No new farms and pools are being added as our team is currently focused on the Genesis Launch. BUT, as you know, DEX is also included in the Mars Ecosystem and one of the most important features that feed the DEXs is the farms. Therefore, our team will open more farms and pools for our users in the future.

Q8 from Telegram user @Bukhari2000
What is your plan for globalization?

Tarios:
Our team knows that communities are very important to the platforms on the DeFi ecosystem and that is why they are constantly working to improve the communities. Right now
🌎Global English Telegram: https://t.me/mars_ecosystem

Chinese Telegram: https://t.me/Marsecosystem_chinese

Indonesian Telegram: https://t.me/marsecosystem_IDSA

Vietnam Telegram: https://t.me/marsecosystem_vietnam

Turkish Telegram:https://t.me/marsecosystemturkey

Spanish Telegram: https://t.me/marsecosystem_ES

Russian Telegram: https://t.me/marsecosystem_cis

Portuguese Telegram: https://t.me/marsecosystem_Pt

French Telegram: https://t.me/marsecosystem_french

We have communities in 9 different languages/regions in total. Each community has its own manager, and these managers are responsible for the community’s growth and expansion in its region. Our team will continue to create communities for each region, stay tuned!

Q9 from Telegram user @Ratash97
What’s the role of Mars Treasury in mars ecosystem?

Tarios:
The Mars Treasury’s role, in a nutshell, is to create liquidity for USDM. But the mission of the Mars Treasury is not limited to this. Also,

✔️
Value support: Mars Treasury assets are the ultimate support for the value of both USDM and XMS.

✔️
Liquidity provision: Mars Treasury uses most of its assets to provide liquidity for USDM on Mars Swap to support the stability of USDM.

✔️
Yield-accrual: Idle assets of Mars Treasury yield earning from the Mars Ecosystem DeFi protocols or other external DeFi protocols.

✔️
External DeFi governance: Mars Ecosystem uses external DeFi protocols governance tokens in the Mars Treasury to participate in their governance to vote on proposals that are beneficial to the Mars Ecosystem.

✔️
Grants: Some assets are used to fund the development of protocols Dapps that can promote the wide adoption and use of USDM.

Q10 from Telegram user @Pklist
How can I stay updated about your project???
Provide all possible links…??

Tarios:
Of course!

To follow the latest news: https://t.me/marsecosystem_news

To chat or get help with our community: https://t.me/mars_ecosystem

To see the latest updates on Twitter: https://twitter.com/MarsEcosystem

To talk and discuss with other users on the Reddit platform: https://www.reddit.com/user/mars-ecosystem/

To get help and chat on Discord: https://discord.gg/gEWC4VVnNt

To follow us on Youtube: https://www.youtube.com/channel/UCUY30mQ_HRXDK80EoO5q_5Q

Part 3 — Quiz Results

In the final part, we tested your knowledge in terms of Mars Ecosystem. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru
Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners
Mars Ecosystem Telegram community: https://t.me/mars_ecosystem
Twitter: https://twitter.com/MarsEcosystem
Website: https://marsecosystem.com

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Join https://t.me/Satoshi_club for daily AMA’s with 500USD giveaway each. An educational community about crypto.

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